A public good is a good for which exclusion is prohibitively costly.

Question

Quizplus · Accepted Answer

A public good is characterized by the fact that it is difficult or impossible to exclude individuals from its benefits. This is due to the non-rivalrous and non-excludable nature of public goods, which means that one person's consumption of a public good does not diminish its availability for others, and that it is difficult or prohibitively expensive to prevent people from using it. Examples of public goods include national defense, clean air, and lighthouses.

A Public Good Is a Good for Which Exclusion Is